AAC Capital buys 3i’s NSL

Private equity firm AAC Capital Partners is to buy a majority stake in NSL Services Group from 3i Group in a deal worth £120m.

3i originally invested in NSL as part of the buyout of NCP Group in August 2005. NCP was later split into NCP Off Street, a traditional car parking business which was sold to Macquarie Group, and NSL, which provides parking enforcement services and was retained by 3i's portfolio.